NAICS 531312 Quarterly Industry Report
Nonresidential Property Managers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 531312Sector: Real Estate and Rental and Leasing (53)Updated: Q1 2026
About This Report
This industry profile for Nonresidential Property Managers (NAICS 531312) draws on data from the U.S. Census Bureau[5], Bureau of Labor Statistics[6], and BOMA[7]. Published by Fair Market Value and updated quarterly, it provides commercial property managers, building owners, and investors with classification guidance and market context. Additional data is drawn from SBA[8].. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team.
Industry Snapshot
Key metrics for the nonresidential property managers industry.
NAICS Sector
53
Real Estate and Rental and Leasing
Industry Definition & Overview
Nonresidential Property Managers (NAICS 531312) encompasses establishments primarily engaged in managing nonresidential real estate for others. Per the U.S. Census Bureau[5], these businesses oversee office buildings, retail centers, industrial warehouses, and mixed-use commercial properties on behalf of owner clients who lack the resources or expertise to manage complex commercial operations.
The nonresidential management sector reached about $54 billion in market size during 2025, representing roughly 40% of the total property management industry. Growth projections suggest compound annual expansion near 4.8% through 2031, driven by post-pandemic office reconfiguration, retail format evolution, and increased industrial demand from e-commerce logistics. No single company controls more than 5% of market share, maintaining a fragmented competitive field with opportunities for specialized regional operators.
Commercial property managers coordinate complex tenant relationships, handle multi-year lease negotiations, manage building systems including HVAC and fire safety, and ensure compliance with commercial building codes and energy standards. Per the Bureau of Labor Statistics[6], property managers earned median annual wages of $66,700 in 2024. Building Owners and Managers Association (BOMA[7]) data shows office building maintenance costs averaging $2.15 per square foot annually. AI-powered building management systems and smart sensors now support predictive maintenance, energy management, and space usage tracking. Certified Property Manager (CPM) and Real Property Administrator (RPA) designations signal professional expertise in commercial building operations.
What's Included in This Industry
- Office building management and tenant coordination
- Retail center and strip mall property administration
- Industrial warehouse and distribution facility management
- Mixed-use commercial property operations
- Commercial lease negotiation and administration
- Building systems management (HVAC, security, elevators)
- Commercial rent collection and accounts receivable
- Tenant improvement coordination and space planning
- Vendor management and capital project oversight
- Energy efficiency and sustainability compliance
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Real Estate and Rental and Leasing | 53 |
| Subsector | Real Estate | 531 |
| Industry Group | Activities Related to Real Estate | 5313 |
| NAICS Industry | Real Estate Property Managers | 53131 |
| National Industry | Nonresidential Property Managers | 531312 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 531311 | Residential Property Managers | Residential Property Managers handle apartment and single-family home operations, using similar management practices but serving residential tenants with different regulatory requirements |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | Lessors of Nonresidential Buildings own and operate commercial properties directly, while nonresidential property managers work on behalf of third-party owners who outsource building operations |
| 531210 | Offices of Real Estate Agents and Brokers | Offices of Real Estate Agents and Brokers handle commercial leasing transactions on commission, while property managers provide ongoing operational management for a recurring fee |
| 531320 | Offices of Real Estate Appraisers | Offices of Real Estate Appraisers determine commercial property values that inform management decisions, refinancing, and investment analysis for managed portfolios |
| 531390 | Other Activities Related to Real Estate | Other Activities Related to Real Estate includes escrow and listing services that support the transaction side of commercial property management and leasing workflows |
| 561210 | Facilities Support Services | Facilities Support Services provide on-site building operations and maintenance, complementing the financial and tenant management functions of nonresidential property managers |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 15.8% | 2,891 |
| 2 | Texas | 9.4% | 1,710 |
| 3 | Florida | 9.2% | 1,680 |
| 4 | New York | 9.1% | 1,662 |
| 5 | Illinois | 3.6% | 654 |
| 6 | New Jersey | 3.3% | 596 |
| 7 | Georgia | 3.0% | 552 |
| 8 | Pennsylvania | 2.9% | 529 |
| 9 | Virginia | 2.6% | 479 |
| 10 | Massachusetts | 2.6% | 476 |
% Of Establishments
0%
16%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
608
Total SBA Loans
$225.8M
Total Loan Volume
$371K
Average Loan Size
12 yrs
Average Loan Term
10.41%
Average Interest Rate
4,928
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard for NAICS 531312 is $19.5 million in average annual receipts (SBA Size Standards[9]). This higher threshold compared to residential property management ($7 million) reflects the larger transaction values and operational complexity of commercial real estate. Most commercial property management firms qualify as small businesses under this standard. SBA financing supports office establishment, technology systems, and working capital for qualifying management companies. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 208 | $52.8M | $254K |
| 2 | Northwest Bank | 16 | $32.5M | $2.0M |
| 3 | HomeTrust Bank | 8 | $20.1M | $2.5M |
| 4 | CalPrivate Bank | 8 | $15.4M | $1.9M |
| 5 | Encore Bank | 16 | $14.5M | $909K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 531312?
NAICS 531312 includes establishments that manage nonresidential real estate for others. Per the Census Bureau[5], this covers office building managers, retail center operators, industrial warehouse managers, and mixed-use commercial property management firms working on behalf of building owners.
How is the nonresidential property management industry structured?
The sector reached about $54 billion in market size during 2025 and is highly fragmented. No single company controls more than 5% of market share. Per the Bureau of Labor Statistics[6], property managers earned median wages of $66,700 in 2024. Growth is projected at 4.8% annually through 2031.
What is the SBA size standard for NAICS 531312?
The SBA size standard is $19.5 million in average annual receipts (SBA Size Standards[9]). This is notably higher than the $7 million standard for residential property management, reflecting the larger scale and complexity of commercial building operations.
What NAICS codes are related to nonresidential property managers?
Closely related codes include 531311 (Residential Property Managers), 531120 (Nonresidential Building Lessors), 531210 (Real Estate Agents and Brokers), 531320 (Real Estate Appraisers), and 561210 (Facilities Support Services). Each represents a different function in the commercial real estate ecosystem.
Which industries work most closely with nonresidential property managers?
Commercial builders (236220) provide new buildings. HVAC contractors (238220) maintain mechanical systems. Insurers (524126) provide commercial coverage. Banks (522110) provide financing. Management consultants (541611) advise on operations. Landscapers (561730) maintain grounds. Per BOMA[7], office maintenance averages $2.15 per square foot annually.
What activities are included in NAICS 531312?
Activities include managing office buildings, retail centers, and warehouses; negotiating commercial leases; collecting rent; coordinating maintenance and capital improvements; managing building systems (HVAC, security, elevators); preparing financial reports; overseeing vendor contracts; and ensuring compliance with building codes and energy efficiency standards.
Can you get an SBA loan for a commercial property management business?
SBA loans are available for qualifying firms meeting the $19.5 million size standard. SBA 7(a) loans[12] can fund office space, technology platforms, staff hiring, and working capital. The service-based revenue model means startup capital requirements are lower than property ownership.
Which states have the highest concentration of commercial property managers?
California, New York, Texas, and Florida host the largest commercial property management markets, driven by their concentration of office buildings, retail centers, and industrial facilities. Major metropolitan areas like New York City, Los Angeles, Chicago, and Houston support large management sectors due to dense commercial real estate inventory.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]BOMA boma.org
- [8]SBA sba.gov
- [9]SBA Size Standards sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
- [12]SBA 7(a) loans sba.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.